Is the Structure of Happiness Equations the Same in Poor and Rich Countries? The Case of South Africa
نویسنده
چکیده
Are happiness patterns structurally the same when comparing poor and rich countries? Using cross-sectional data from the SALDRU93 survey, we show that the relationships between subjective well-being and socioeconomic variables have a similar structure and is U-shaped in age in South Africa as in developed countries. Well-being rises with income. Unemployment is detrimental to reported well-being, both at the individualand household-level. Living standard indicators such as durable assets ownership seem to determine happiness levels as well as income. Relative income also matters to well-being, after controlling for community wealth. (90 words) JEL Classification: D10, I31, J10, O10, O55
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